Another method of financing your startup business is to compete in Business Plan Competitions.  These competitions offer the opportunity to win tens of thousands of dollars.  Most Business Plan competition are run by colleges and universities and are geared towards students. Others are geared towards the general public.  

The competition usually consists of key members of the organization making a presentation before a panel of judges who will decide who the winners are.  Some competitions include making an elevator pitch.  Sometimes more than one presentation is required. 

Be sure to go to the website of the competition you're interested in and follow the submission guidelines.

Take advantage of these competitions to get your business financed.

 

Organization Description Type
43North If you have a startup business that is not in the Retail or Hospitality, this is a great source for funding.  43North holds annual competitions where they hand out $1 million to the winner, six $500,000 awards and four $250,00 awards.  The competition starts in February and ends in October. Anyone
Accelerate Michigan Business Plan Competition The Accelerate Michigan Innovation Competition is open to any early stage business — from anywhere in the world.  Businesses are expected to operate in Michigan.  Win up to $500,000. Anyone
American Indian Business Leaders Business Plan Competition

All student members of an American Indian Business Leaders Chapter, as well as native student-based business clubs can participate.  The process runs from February thru March.  The winning prizes for 3rd to 1st place range from $250 to $1,500.

 American Indian
Arch Grants Business Plan Competition Arch Grants is looking for disruptive ideas – doing something that hasn’t been done before or doing something in a radically new way.  Win up to $100,000. businesses in St. Louis, MO
Cartier Women’s Initiative Business Plan Competition

This business plan competition is for women business owners.  The winning prize include up to $20,000 in cash and in-kind services.  The process runs from March thru October. 

Women
First Look West (FLOW) Business Plan Competition Win up to $100,000.  The focus is on technology companies. students from any college/university in the U.S.
Florida Atlantic Unifersity (FAU) Business Plan Competition Teams participating in the competition have the opportunity to meet and network with experienced venture capital principals, early stage angel investors, successful entrepreneurs, and senior business leaders who will serve as judges for the competition. All students, faculty, and members of the community may be eligible to participate.
G-Startup G-Startup Worldwide is a global startup competition held around the world to find the most innovative, early stage startups, invest $1,000,000 in them, support them with a global network and enable them to change the world. Anyone
Governor's Grant Vision Business Plan Competition Win up to $20,000.  A panel of business experts will review all entries and select 12 qualifiers who will attend the final competition in Sioux Falls. Qualifiers will give presentations and discuss their ideas with seasoned business and financial experts and other invitees. Initial Stage businesses based in Northwest Minnesota
Michigan Business Challenge This is for student startups.  This competition starts in December and ends in February.  First place wins $15,000. Students
Michigan Women's Foundation This business plan competition offers cash prizes up to $10,000, support services and technical assistance.  The deadline for submission is usually in May. Women
MILKEN-PEN GSE Edeucation Business Plan Competition Win up to $120,000.  Have an idea to improve education? The Milken-Penn GSE Education Business Plan Competition can help make it happen. Anyone
NAWBO Business Plan Competition

Run by NAWBO Orlando. Women entrepreneurs from all disciplines – technology, engineering, business, social and political sciences, can participate.  Prizes include cash and in-kind services valued at over $50,000.  Runs from November thru September.

 women
New York Business Plan Competition York StartUP! Business Plan Competition for New York-based startup entrepreneurs. Entrants can win $15,000 to start their business, as well as gain practical insights about starting and growing a business, while using the comprehensive small business resources at NYPL’s Business Library (SIBL). must live in Manhattan, Bronx or Staten Island
North Boston Business Plan Competition Designed to encourage companies to start and grow in Essex County and the Merrimack Valley.  1st place: $5000; 2nd place: $3000: 3rd place: $2,000.  The process starts early in eth year. Anyone
Rhode Island Business Plan Competition The Rhode Island Business Plan Competition has been organized to promote entrepreneurship and the development of start-up and early stage companies in Rhode Island by encouraging submission of plans of original business concepts that will lead to the development of new growth businesses in Rhode Island.  Prizes are unspecified. Any business in Rhode Island or outside of Rhode Island
Rice University Business Plan Competition Winning prize can go over $1,000,000.  The Rice Business Plan Competition is the world’s richest and largest graduate-level student startup competition. Students and non-students may be part of the team
S.E.E.D. Business Plan Competition

Women owned businesses that are less than 2 years old are eligible to participate.  Winners will share $10,000 in cash and in-kind services.  The process runs from February through April.

 All
Utah Entrepreneur Challenge The Challenge focuses on the development of a full, comprehensive business plan, which will be analyzed and judged by leaders within Utah’s business community. Participants often advance to create successful business start-ups.  Win up to $40,000. University students from across Utah 
WORC Impact Business Plan Competition

The business must be 51% owned by a woman and located in the Philadelphia area.  Prizes range from $1,000 to $2,500.  The process takes place in May.  Must complete a WORC training program before receiving the prize.

 Women